Arnhold LLC grew its stake in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 4.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 226,540 shares of the technology company's stock after purchasing an additional 10,423 shares during the period. Lumentum makes up approximately 2.0% of Arnhold LLC's portfolio, making the stock its 14th biggest holding. Arnhold LLC owned about 0.33% of Lumentum worth $21,535,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its stake in shares of Lumentum by 1,913.2% during the 1st quarter. Farther Finance Advisors LLC now owns 1,067 shares of the technology company's stock worth $68,000 after purchasing an additional 1,014 shares during the period. GAMMA Investing LLC grew its stake in Lumentum by 72.1% in the 1st quarter. GAMMA Investing LLC now owns 2,051 shares of the technology company's stock worth $128,000 after acquiring an additional 859 shares during the period. State of Alaska Department of Revenue grew its position in shares of Lumentum by 3.4% in the first quarter. State of Alaska Department of Revenue now owns 8,103 shares of the technology company's stock valued at $505,000 after purchasing an additional 270 shares during the period. Blue Trust Inc. increased its stake in shares of Lumentum by 1,372.0% during the 1st quarter. Blue Trust Inc. now owns 3,209 shares of the technology company's stock valued at $200,000 after acquiring an additional 2,991 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in Lumentum during the first quarter worth approximately $260,000. Hedge funds and other institutional investors own 94.05% of the company's stock.
Insider Transactions at Lumentum
In other news, SVP Jae Kim sold 4,507 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $116.88, for a total transaction of $526,778.16. Following the completion of the sale, the senior vice president owned 33,465 shares of the company's stock, valued at $3,911,389.20. This represents a 11.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Vincent Retort sold 22,719 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $110.00, for a total value of $2,499,090.00. Following the transaction, the insider directly owned 121,747 shares of the company's stock, valued at approximately $13,392,170. This trade represents a 15.73% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,687 shares of company stock valued at $4,759,552. 0.43% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
Several research analysts have commented on LITE shares. B. Riley raised their price objective on Lumentum from $73.00 to $83.00 and gave the company a "neutral" rating in a research report on Wednesday, August 13th. JPMorgan Chase & Co. increased their price target on Lumentum from $145.00 to $185.00 and gave the stock an "overweight" rating in a research report on Thursday. KGI Securities initiated coverage on shares of Lumentum in a research report on Monday, August 18th. They issued an "outperform" rating on the stock. Rosenblatt Securities raised their price target on Lumentum from $150.00 to $225.00 and gave the company a "buy" rating in a report on Monday, September 22nd. Finally, Needham & Company LLC reissued a "buy" rating and set a $145.00 target price (up previously from $135.00) on shares of Lumentum in a report on Wednesday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $139.43.
Check Out Our Latest Analysis on LITE
Lumentum Price Performance
NASDAQ LITE opened at $164.77 on Friday. The stock has a 50-day simple moving average of $147.38 and a 200 day simple moving average of $103.21. The stock has a market capitalization of $11.68 billion, a PE ratio of 716.39 and a beta of 1.42. The company has a debt-to-equity ratio of 2.26, a quick ratio of 3.18 and a current ratio of 4.37. Lumentum Holdings Inc. has a twelve month low of $45.65 and a twelve month high of $178.49.
Lumentum (NASDAQ:LITE - Get Free Report) last issued its earnings results on Tuesday, August 12th. The technology company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.79 by $0.09. Lumentum had a negative return on equity of 3.02% and a net margin of 1.57%.The firm had revenue of $480.70 million during the quarter, compared to analysts' expectations of $465.27 million. During the same period last year, the business earned $0.06 earnings per share. Lumentum's quarterly revenue was up 55.9% compared to the same quarter last year. Lumentum has set its Q1 2026 guidance at 0.950-1.100 EPS. Research analysts anticipate that Lumentum Holdings Inc. will post 0.03 EPS for the current year.
Lumentum Profile
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Free Report)
Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company operates through two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers). The OpComms segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and data over high-capacity fiber optic cables.
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